questions & answers

Question: I bought a mobile home in a park. I pay space rent and a payment on the mobile. I received a list showing breakdown of interest and principal. I also paid a 5,000 down payment. She refuses to give me a title with her as the lien holder. I cannot sell it because I do not own it. It is my understanding is that I should just move out. She would own the mobile. She gives me -0- not even my down payment. My understanding is that AZ is a title holding state. Not a lien holder state. What is right. What can I do?

Answer: Arizona is a title-theory state. What this means is that a buyer/borrower has only an equitable interest (rather than a legal or ownership interest) in a property that is the subject of a mortgage or promissory note. The seller/lender retains legal title. Real estate transactions can be very complicated, so you may wish to consult an attorney about your specific situation. There are links to organizations offering free or low-cost legal services on this website.